Palos Verdes Homes Market Report October 2017

Fall is here! My morning walk required a sweater for the brisk 58-degree day. After the languid last days of summer, I think the real estate market is ready to perk up and make the most of the final quarter of 2017. I bumped into an agent who has been in the business longer than I have, and she said, “This has been the quietest summer I can remember.” Yes, although I was busy and productive with listings and sales, the market took a bit of a breather during the summer months of 2017.

Inventory remains tight with only 183 single family homes listed for sale. 89 Palos Verdes single family homes are in escrow with accepted offers, and 553 PV single family have sold year-to-date. The luxury market indicator shows a slow movement back to a neutral market after spending most of the summer in a market favoring buyers. The Palos Verdes market for all single-family homes is showing a slight trend away from the hot sellers’ market of the past several years.

If you’re wondering whether autumn is a prime time to sell or purchase property in Palos Verdes my experience tells me the market is only mildly affected by the seasons–your reason for buying or selling is much more important.

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Norma Toering is the broker-owner of Charlemagne Intl Properties a boutique real estate company in Los Angeles. She has been a local South Bay real estate agent since 1992. Norma is the most well known & award winning real estate blogger in Palos Verdes. Forbes magazine consulted Norma on Palos Verdes property values when compiling their Forbes 400 list.
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